Pittsburgh entrepreneur Mike Wagner is best known for his high-growth company which specializes in optimizing carrier pricing in real-time. Now, Wagner’s Target Freight Management has introduced a new technology to an industry with the announcement of their patent for Freight Innovation Density Analytics – or FIDA.
“Nothing in the market today can analyze all the variables of a shipment and make a determination against any carrier rules,” said Wagner. “Because of our patent-approved technology, we’re able to do this and provide additional savings for our clients above and beyond the negotiated rate. According to Wagner, with FIDA and other elements of TFM’s technology stack, clients can ship with confidence that the rate they see in the computer is the rate they are going to pay.
“This means that $200 shipments really do cost $200 and don’t become $2,000 shipments. We successfully manage our clients expectations, visibility and predictability in their supply chain costs. We save them time by eliminating the need to double check costs, carriers and shipments. By empowering customers to ship with less worry allows them to focus on what they know, what they produce.”
Wagner’s proprietary technology is a software program four years in the making – he and staff developer Dave Scherer have been working on this software build since 2013. In 2014, the Supreme Court decision on Alice Corp. v. CLS Bank International made it much more challenging to get computer-implemented “abstract ideas” eligible for patent protection. Since ALICE, such patents have suffered a very high mortality rate.
FIDA software is poised to deliver an impact for a variety of industries which depend on freight moving inbound and outbound throughout the US and cross borders.